RBZ Jewellers Limited (RBZJEWEL.NS) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-514.1%

-₹740.60

vs ₹178.84 price

Levered DCF

-₹957.65

After debt service

Piotroski score

3 / 9

Weak

Altman Z-score

—

Rating

B-

Overall 3 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020
P/E	7.39×	14.3×	23.94×	18.82×	29.17×	43.03×	105×
P/B	1.35×	2.26×	3.05×	4.54×	6×	7.56×	7.01×
P/S	0.64×	1.05×	1.93×	1.46×	1.67×	3.93×	1.81×
EV / EBITDA	6.23×	10×	18.05×	12.92×	18.06×	23.44×	36.18×
Gross margin	20.2%	21.0%	16.9%	15.5%	14.8%	26.6%	7.9%
Operating margin	13.8%	18.4%	11.3%	13.1%	10.1%	17.7%	5.2%
Net margin	8.6%	7.3%	6.6%	7.8%	5.7%	9.1%	1.7%
Current ratio	2.99×	3.15×	4.61×	2.02×	1.96×	1.96×	1.5×
Debt / equity	0.57×	0.37×	0.33×	1.04×	0.92×	1.08×	1.01×
Interest coverage	6.22×	10.21×	4.71×	4.54×	4.38×	3.19×	0×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020
Return on equity	18.3%	15.8%	10.4%	24.2%	20.6%	17.5%	6.7%
Return on invested capital	13.7%	21.3%	9.7%	14.9%	13.8%	11.8%	7.1%
Return on assets	11.3%	11.0%	7.6%	10.8%	9.4%	7.9%	2.7%
Free cash flow yield	-12.8%	-3.5%	-8.3%	-6.0%	-0.0%	-0.7%	1.2%
Earnings yield	13.5%	7.0%	3.4%	5.3%	3.4%	2.3%	1.0%
Enterprise value	₹5.7B	₹6.4B	₹6.9B	₹5.1B	₹4.8B	₹4.8B	₹3.7B
Net debt / EBITDA	1.81×	1.37×	1.49×	2.28×	2.4×	2.89×	4.38×
Cash conversion cycle (days)	269	260	311	230	197	405	167